I already own my semi but the one next door may be coming up and I want to finance the purchase of that?
I want the semi next door as a sort of granny annexe for my parents as they're getting on a bit. There is the possibility of aorund £100K (from their house) to part finance - assuming it goes for £180K - that would be relatively easy to finance but in case that doesn't come off - they may not want to move for a few more years but I'd still like to do it... Tricky I know but worth while if it can be done. Nice one - yes, assume they do want to live next door - in a few years they may not have the option.
Public Comments
- I think that you should check with your parents, and see if they want to move next to you.
- Do it if you can the best investment is real estate
- dont know where youre based about but you could try releasing some of the equity in your own property if youve lived there for a while it is possible that the value of your house is more than you paid for it
- You could try purchasing as a buy to let and rent it out for a few years until your parents want to move in. You really need to consult a mortgage broker and see if the numbers add up. Good luck
